Venturi Wealth Management LLC Sells 2,236 Shares of KLA Co. (NASDAQ:KLAC)

Venturi Wealth Management LLC decreased its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 11.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,570 shares of the semiconductor company's stock after selling 2,236 shares during the quarter. Venturi Wealth Management LLC's holdings in KLA were worth $13,607,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Cedar Wealth Management LLC grew its stake in KLA by 77.3% in the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 17 shares during the period. Family Firm Inc. bought a new stake in KLA during the 2nd quarter valued at $30,000. Capital Performance Advisors LLP acquired a new position in KLA during the third quarter worth $38,000. 1620 Investment Advisors Inc. bought a new position in shares of KLA in the second quarter valued at $44,000. Finally, LRI Investments LLC acquired a new position in shares of KLA during the first quarter valued at about $45,000. Institutional investors and hedge funds own 86.65% of the company's stock.

KLA Price Performance

KLA stock traded down $21.38 during midday trading on Monday, hitting $666.03. 1,167,733 shares of the company's stock were exchanged, compared to its average volume of 953,396. The company has a market cap of $89.09 billion, a P/E ratio of 31.39, a PEG ratio of 1.45 and a beta of 1.29. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. The stock has a 50-day moving average price of $731.06 and a two-hundred day moving average price of $765.29. KLA Co. has a 52-week low of $524.03 and a 52-week high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the firm earned $5.74 earnings per share. KLA's revenue was up 18.5% on a year-over-year basis. On average, equities research analysts forecast that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, November 18th. This is a positive change from KLA's previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.02%. KLA's payout ratio is 26.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of KLA from $890.00 to $750.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on KLA from $800.00 to $950.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. The Goldman Sachs Group upped their price target on KLA from $735.00 to $838.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. Cantor Fitzgerald restated a "neutral" rating and set a $925.00 price objective on shares of KLA in a research note on Tuesday, October 8th. Finally, TD Cowen reduced their target price on shares of KLA from $760.00 to $725.00 and set a "hold" rating for the company in a research note on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, KLA has a consensus rating of "Moderate Buy" and a consensus price target of $802.90.

KLA Company Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB and Component Inspection.